Leading law firm ProAct Legal has hit out at the industry regulator, the Financial Services Authority (FSA) for encouraging people on its website to complain if they have a shortfall on their endowment mortgage.
Our view
Everybody has the right to complain if they believe they have been mis-advised or mis-sold. The question is whether poor performance gives you a right to complain. If you knew the risks then no, if you never had the risks explained to you or false promises were made by the adviser then yes.
Stamping out poor advice or commission hungry sales people is a must.